Amalgamated Bank Lowers Stake in Amphenol Co. (NYSE:APH)

Amalgamated Bank cut its stake in Amphenol Co. (NYSE:APH) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,257 shares of the electronics maker’s stock after selling 10,523 shares during the period. Amalgamated Bank’s holdings in Amphenol were worth $14,895,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new position in shares of Amphenol during the 4th quarter valued at about $3,589,000. West Coast Financial LLC raised its stake in shares of Amphenol by 65.0% during the fourth quarter. West Coast Financial LLC now owns 128,911 shares of the electronics maker’s stock worth $12,779,000 after acquiring an additional 50,778 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Amphenol by 63.4% in the 4th quarter. Cerity Partners LLC now owns 38,264 shares of the electronics maker’s stock worth $3,793,000 after acquiring an additional 14,843 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Amphenol in the 4th quarter valued at $2,875,000. Finally, Fortune Financial Advisors LLC bought a new position in shares of Amphenol during the 4th quarter valued at $1,071,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. UBS Group increased their target price on Amphenol from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Bank of America lifted their price target on Amphenol from $121.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Robert W. Baird increased their price objective on Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Truist Financial lifted their target price on shares of Amphenol from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Amphenol presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In related news, CFO Craig A. Lampo sold 100,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.67, for a total value of $10,467,000.00. Following the completion of the transaction, the chief financial officer now directly owns 147,045 shares in the company, valued at approximately $15,391,200.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Peter Straub sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig A. Lampo sold 100,000 shares of Amphenol stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $104.67, for a total value of $10,467,000.00. Following the transaction, the chief financial officer now owns 147,045 shares of the company’s stock, valued at approximately $15,391,200.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,000 shares of company stock worth $14,251,050. Corporate insiders own 1.80% of the company’s stock.

Amphenol Trading Up 1.4 %

Shares of APH traded up $1.65 during trading hours on Friday, reaching $122.65. 3,279,405 shares of the company traded hands, compared to its average volume of 2,911,420. Amphenol Co. has a 12 month low of $72.77 and a 12 month high of $123.60. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $113.27 and its two-hundred day moving average price is $100.73. The company has a market capitalization of $73.66 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.02 and a beta of 1.27.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $0.69 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Amphenol Co. will post 3.35 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, June 18th. Amphenol’s dividend payout ratio is currently 26.91%.

Amphenol declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.